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E 8 . 5 ( LO 1 , 2 ) , AP Assume the following information for Larry Corp. Accounts receivable ( beginning balance )
ELO AP Assume the following information for Larry Corp. Accounts receivable beginning balance $ Allowance for doubtful accounts beginning balance Net credit sales Collections Writeoffs of accounts receivable Collections of accounts previously written off Uncollectible accounts are expected to be of the ending balance in accounts receivable. Instructions Prepare the entries to record sales and collections during the period. Prepare the entry to record the writeoff of uncollectible accounts during the period. Prepare the entries to record the recovery of the uncollectible account during the period. Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts. Prepare the entry to record bad debt expense for the period. Determine the ending adjusted balance in Allowance for Doubtful Accounts. Prepare entries to record bad debt expense.
ELO AP Assume the following information for Larry Corp.
Accounts receivable beginning balance
$
Allowance for doubtful accounts beginning balance
Net credit sales
Collections
Writeoffs of accounts receivable
Collections of accounts previously written off
Uncollectible accounts are expected to be of the ending balance in accounts receivable.
Instructions
Prepare the entries to record sales and collections during the period.
Prepare the entry to record the writeoff of uncollectible accounts during the period.
Prepare the entries to record the recovery of the uncollectible account during the period.
Determine the ending balance in Accounts Receivable and the unadjusted balance in Allowance for Doubtful Accounts.
Prepare the entry to record bad debt expense for the period.
Determine the ending adjusted balance in Allowance for Doubtful Accounts.
Prepare entries to record bad debt expense.
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